All Forum Posts by: John Princinsky

So I am considering getting my RE license in Michigan, but all of the brokers keep telling me I would have to go through them (and pay them their split) on personal investments/ purchases if I have my license. (With small exceptions: 1 property/ year, ect..)

Does anyone know if this is accurate? I feel like it just sounds like a way for the broker to ensure they get a cut- if I'm representing myself, why should I have to use a brokerage? I can't seem to find any law that states the need to, yet the brokers all seem to insist that I would need to go through them for my own investments.

What am I missing here?

Hey There! I hope I am posting in the right place!

I just wondered if there was any sort of standard contract in Michigan I should be working from.

I just educated myself on real estate contracts and am working on learning the applicable laws in Michigan. I certainly want to do things right, but am tight on cash so I need to keep attorney fees to a minimum.

I’m intending on taking over the world but maybe starting with wholesaling.

Any input would be greatly appreciated.

Oo! Here's a question... If my area has a higher vacancy rate than average should I estimate more than 50% for expenses?

Hey Justin!

I just joined this site and am in just about the same position as you are! Also, I live in the Mid-Michigan area, which is why your post caught my attention.

Similarly, I bought my house for what seemed like a good deal in '08. Since I'm pretty much starting from scratch, I re-modeled it into a rooming house where I rent rooms now, which has been a success thus far.

Ideally, I'd like to wholesale just a property or two to start, then shoot for maybe a few multi-family properties.

I'm a few years younger at 23, single. Took time off college and haven't found my way back yet. I'm not sure if college will help me make more money as an investor/ business owner, so I haven't taken the time to get a degree (Maybe someone here has an opinion on that for me!?)

Anyway, I just wanted to touch base with you since we appear to be in similar situations and live in the same area. I was excited to see your post.